Ann: Increase to JORC Mineral Resource Estimate to Over 446MT-VRC.AX, page-3

VOLT RESOURCES DELIVERS 108% INCREASE TO JORC MINERAL RESOURCE ESTIMATE TO OVER 446MT @ 5.01% TGC

HIGHLIGHTS
* Modelling confirms substantial 108% increase in Mineral Resource Estimate at Namangale Project to 446.2Mt @ 5.01% TGC from 214.4Mt @ 5.1% TGC previously

* Mineral Resource is inclusive of a total 167.7Mt Measured and Indicated Resource

* Mineral Resource contains over 22.3Mt of contained graphite

* Volt now has largest graphite Mineral Resource in Tanzania (reported to the standard of the 2012 JORC Code)

* Namangale Project located in ideal position to existing infrastructure

* Facilitates scale which complements global marketing drive and strategy to fast track de-risking the project to evolve supply chain

* Focus remains on delivering Large, Jumbo and Super Jumbo flake product

* Pre-Feasibility (PFS) on track for completion in 4th quarter 2016

CONCLUSION
The Board is delighted the modelling confirms a substantial increase in the Mineral Resource Estimate at Namangale to 446.2Mt @ 5.01% TGC. Factoring in the Super Jumbo and Jumbo flake size distribution and high purity, the Project is clearly among the best in the world. The Namangale project is ideally located to infrastructure with sealed roads, power and access to a deep water port. With a much larger resource, the Board is optimistic that ongoing global marketing and progressing the supply chain at a fast pace, will facilitate the Namangale project creating more value for stakeholders than originally envisaged.

Am I happy? Hell Yes!